1031 Tax Deferred Exchanges

Protecting Investment Profits

Section 1031 of the Internal Revenue Code allows investors to postpone the recognition of taxes on the exchange of like-kind assets. It is one of the few methods of deferring, or possibly eliminating altogether, taxes on specified assets, such as business or investment property. This frees up finances for investment in other properties.

At Palmer Law Group LLC, we help individuals facilitate 1031 tax deferred exchanges. We have nearly 30 years of taxation law experience. Although our offices are located in Frederick, Maryland, and Northfield, Illinois, we work with individuals throughout the United States and across the globe.

Benefits of a 1031 Tax Deferred Exchange

The tax deferred exchange allows an individual to move existing equity interests in one asset into equity in a like-kind asset without current taxation. Assets are considered like-kind if they are of a similar nature and character. Certain assets, such as stocks, bonds, notes, and inventory do not qualify for tax deferred exchanges.

A reverse exchange occurs when an asset is acquired before the like-kind asset is disposed of. In this situation, form over substance generally applies. How the transaction is handled is extremely important. At Palmer Law Group LLC, we have extensive experience with 1031 tax deferred exchanges. We will facilitate your transaction, ensuring it is done properly.

Experienced Taxation Law Attorney

Our founding lawyer, L. Guy Palmer, previously worked as a Revenue Agent and Instructor for the Internal Revenue Service. He draws on his intricate knowledge of accounting and the complicated IRS Code to assist our clients with complex tax deferred exchanges.

To learn how we can assist you, contact our office online or call us at 301-695-0700 or 800-732-7907. We offer initial consultations, generally done over the telephone.

While our offices are located in Frederick, Maryland, and Northfield, Illinois, we work with individuals throughout and outside the United States.